Last mentioned: 1d ago
Effective Date
The 15% global tariffs are scheduled to go into effect for all U.S. imports.
Rate Hike to 15%
Trump elevates the rate to the legal maximum of 15% via Truth Social, citing Section 122.
SCOTUS Ruling
The Supreme Court strikes down global tariffs in a 6-3 decision, citing lack of executive authority.
Market Record
The European Stoxx 600 index hits a record high as trade tensions momentarily ease.
Executive Response
President Trump lashes out at the court and announces a new 10% Section 122 tariff.
SCOTUS Ruling
Supreme Court invalidates the administration's use of emergency powers for broad tariffs.
10% Tariff Announced
Trump announces a 10% global tariff as an immediate response to the court's decision.
President Trump has increased his proposed global tariff from 10% to 15%, utilizing Section 122 of the 1974 Trade Act to bypass a recent Supreme Court setback. This temporary measure lasts 150 days, creating immediate volatility for global supply chains as the administration seeks more permanent legal avenues for its protectionist agenda.
The US Supreme Court has invalidated the Trump administration's sweeping global tariffs in a landmark 6-3 ruling, citing executive overreach. While markets rallied to record highs on the news, President Trump immediately announced a new 10% 'Section 122' tariff to maintain his trade agenda.